#RealtyNewsRoundUp: RBI Leaves Key Rates Unchanged

As was widely expected, the Governor Urjit Patel-led Reserve Bank of India (RBI) has left repo rate — the rate at which the central banks lends to scheduled financial institutions — unchanged in its sixth bi-monthly policy review on February 7. While lowering its economic growth projection to 6.6 per cent for 2017-18, from its earlier projection of 6.7 per cent, the central bank has also said that inflation might harden to 5.1 per cent for in fourth quarter of 2017-18, and further to 5.1-5.6 per cent in first half of next financial year. The RBI expects growth to pick up, and reach 7.2 per cent in next fiscal.

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About 6,500 flats allotted last year under the Delhi Development Authority (DDA) housing scheme have been surrendered by the allottees. Over 46,000 applicants had applied for 12,617 flats across four income categories located across localities of Rohini, Dwarka, Narela, Vasant Kunj, Jasola, Pitampura, Paschim Vihar and Siraspur. Of the total number of flats offered, around 10,000 unoccupied ones were from the 2014 housing scheme.

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The Pradhan Mantri Awas Yojana is a "roaring success" and the government's Housing-for-All-by-2022 target will be achieved, Urban Development Minister Hardeep Singh Puri has told the Lok Sabha. He also said that title of houses built under the scheme would be in the name of the women as part of the government’s efforts to boost woman empowerment.

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Delhi is forming gram vikas samitis in every village of the national capital to ensure development works in both "tradition and modern manner". The Delhi Gramin Vikas Board, which was formed recently, has approved 452 schemes worth Rs 558 crore in both rural and urban villages of the national capital. The Gramin Vikas Board will develop community centres in those villages which lack such facility. According to a government official, the board would take up more proposals for development in the villages in its next meeting to be held later this month.

Source: Media reports